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June sees drop in rental prices in Tel Aviv
Most significant drop in Tel Aviv recorded last month in three-room apartments in city center, whose prices dropped by almost 6%, totaling NIS 4,200 on average. Sharpest rise outside Tel Aviv – 6% in two-room flats in Haifa
Ory Chudy, Calcalist
Good news for apartment renters in most parts of Tel Aviv: The month of June saw rental prices drop in the metropolis, according to the WinWin rental index for last month. Rental prices in Jerusalem, Beersheba and Haifa were on the upside trend, however.
The most significant drop in rent in Tel Aviv last month was recorded in three-room apartments in the city center, with the average rental price standing at NIS 4,200 (about $1,089) a month – a 5.9% drop compared to last month.
Another drop was noted in the northern part of the city, with the average rental price for a two-room apartment standing at NIS 3,450 ($895) a month – a 5.7% drop, and the price for a 3-room flat standing at NIS 4,850 ($1,254) a month – a 4.1% drop.
The southern part of the city also saw a 4.6% drop in rental prices for three-room apartments, with their price standing at NIS 3,100 ($804) a month. Two-room apartments in southern Tel Aviv, on the other hand, saw a 5.1% rise in rental prices, with tenants paying NIS 2,730 ($709) in the month of June.
In central Tel Aviv, the price of a two-room apartment remained unchanged, at NIS 3,480 ($903) per month.
Cities outside Tel Aviv saw a rise in average rental prices last month. The biggest increase was recorded in two-room apartments in Haifa – a 5.9% rise to NIS 1,700 ($441) a month. At the same time, the price of three-room apartments in the northern city remained unchanged at NIS 2,100 ($544) a month.
In Jerusalem, rental prices for two-room apartment have risen by 1.8% to NIS 2,850 ($738) per month. The rental price for a three-room apartment in the capital rose by 4.1%, standing at NIS 3,480 ($902) a month.
Rental prices rose in Beersheba as well. The average price of a two-room apartment in the city rose by 4.1%, reaching NIS 1,475 ($382), and the rental price for a three-room apartment in the southern city rose by 3.7% in the month of June, standing at NIS 1,850 ($479) a month.
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